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omanreference.com ->Sohar -> Investment
Investment
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Sohar is currently experiencing significant investment and economic shifts making it the focus of attention of many local and international investors and businessmen. This change is due to a series of investment projects and economic giant in Sohar industrial area where Sohar Port is. Located east of the Strait of Hormuz, Sohar Port was established in 2002 and it is operated by Sohar Industrial Port Company (SIPC). Sohar Port is considered a world class port. With current investments exceeding $12 billion, it is one of the world’s largest port development projects.
The Omani government has paid special attention to the city of Sohar, and placed it in the priorities of the future plan of the Omani economy in 2020. The goal of the Omani government is to make Sohar a business and industrial hub and help the Omani economy diversify away from oil. In order for the Omani economy to achieve this economic diversification, the Omani government is investing in a number of projects in the industrial area of Sohar. For example, it is investing more than 5 billion dollars in the steel industry in which Oman aims to be one of the Gulf's leading producers. In addition to the steel industry, there is also the industry of aluminium in Sohar industrial area. Sohar Aluminium Company was established in 2004 and it is considered one of the leading projects that play a major role in the sultanate’s economic diversification strategy. Sohar Aluminum Company undertakes a landmark US$2.4 billion Greenfield Aluminum Smelter project in the Sultanate of Oman. This project, which will contribute significantly to the GDP of Oman, will be developed in Sohar, and will benefit from the current development of the Sohar Industrial Port. Sohar Aluminum will apply the highest standards and meet the best benchmarks in Environment, Health and Safety management. The Company, in its a first phase development, will build a single AP35 pot line with an annual production capacity of 350,000 tons, together with associated carbon and casting facilities and an 1000 MW gas-fired power station. Sohar Aluminum is proud to be playing a pivotal role in the major project initiatives that the Sultanate of Oman has chosen to pursue in its economic diversification strategy. This will be the first Greenfield aluminum smelter project in the region for over 25 years. With a stable political and economic environment, modern infrastructure and availability of competitively priced gas, Oman was a natural choice for the site of this exciting project. Our Shareholders, with their varied backgrounds and expertise, bring with them synergies that are essential ingredients for the success of this project. Sohar Hospital under the Ministry of Health, Oman was set up in 1997 and is a 408 bed tertiary care hospital of wilayat Sohar. It aims to cater to the population of North Batinah Region extending from Suweiq to Shinaz. It is a multispeciality hospital having a fully equipped Adult ICU, Paediatric ICU, CCU apart from facilities for Dialysis. The Operative facilities consist of Laproscopic surgeries in Gyaenecology, Abdominal surgeries as well as Arthroscopy and Endoscopic Sinus Surgery. It is a teaching hospital for students of Oman Medical College (second medical college in The Sultanate of Oman).The majority of Hospital staff comprises expatriates including doctors and paramedics. Pakistan is at top of list as far as doctors list is concerned earning a very good repute in terms of competency and excellency followed by Egyptians, Iraqies, Indians and Sudanese doctors in decreasing order as mentioned in Ministry of Health 2008 annual report given to His Majesty, SULTAN QABOOS of Muscat,Oman.
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